Remittances from Egyptian expats in G20 hit $11.1b in FY22/23 – CAPMAS

Remittances from Egyptians working in the G20 countries amounted to $11.1 billion in the 2022/2023 fiscal year, a decrease from $14.3 billion the previous year, according to the latest data from the country’s official statistics agency, CAPMAS.

Saudi Arabia was the largest contributor, sending $8.3 billion, followed by the United States ($1.6 billion), the UK ($560 million), Germany ($129.8 million), Canada ($118 million), Italy ($104.4 million), France ($97 million), Australia ($54.6 million), Turkey ($30.1 million), and China ($19.5 million).

On the other hand, remittances from expatriates from G20 countries working in Egypt totaled $215.6 million in 2022/2023, down from $237.9 million in the previous fiscal year. The UK was the top contributor with $54.9 million, followed by the US ($30.7 million), Saudi Arabia ($26.1 million), India ($23 million), Germany ($15.2 million), Canada ($11.3 million), Turkey ($10.7 million), France ($9.7 million), Australia ($9.2 million), and South Africa ($6.1 million).

Additionally, investments from G20 countries in Egypt reached $12 billion in the 2022/2023 fiscal year, while Egyptian investments in G20 countries totaled $8.2 billion. The number of Egyptians living in G20 countries was 4.1 million at the end of 2023.

Attribution: CAPMAS emailed statement

Subediting: Y.Yasser